Zakat on Gold - How to Calculate | Islamic Relief Worldwide (2024)

Zakat on Gold - How to Calculate | Islamic Relief Worldwide (1)Zakat on Gold - How to Calculate | Islamic Relief Worldwide (2)

Zakat must be paid on 2.5% of the value of the gold that you own. Calculate the Zakat on your gold and donate online.

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Zakat on Gold

Zakat must be paid on 2.5% of the value of the gold that you own. A gram of gold costs£47.32, which equates to £1.18 Zakat per gram. For example, if you own 50 grams of gold jewelry, you would owe £59.15 Zakat (50 grams x £1.18). Use ourZakat calculatorto work out how much Zakat you owe on gold.

Zakat: A Sacred Pillar

Zakat is not just a duty on those with wealth given for the love of Allah, but a right that the poor have over us.

Those with sufficient wealth are noted in the Holy Qur’an as for:

“Those in whose wealth there is a recognised right for the needy and the poor”(70:24-25).

Gold Rate for Zakat: £1.18 per gram or £13.42 per Bori/Tola (11.34g)

Zakat on Gold - How to Calculate | Islamic Relief Worldwide (6)

Last year alone, your Zakat enabled us to save lives

Your Zakat has funded some of our crucial work with people and communities living in disaster and war zones: drought and famine-struck countries across East Africa; communities affected by conflict in Yemen; and families in war-torn Syria struggling to survive one day to the next.

Your Zakat has supported communities to build sustainable livelihoods in the face of climate change and to build better lives for vulnerable orphans and families across the globe.

Alhamdulillah, your Zakat has the power to transform people’s lives. Help make this happen. Give your Zakat for the love of Allah.

Give your zakat today!

What is Nisab?

Thenisabis the minimum amount of wealth a Muslim must possess before they become eligible to pay Zakat. This amount is often referred to as the nisab threshold.Gold and silverare the two values used to calculate the nisab threshold. The nisab is the value of 87.48 grams of gold or 612.36 grams of silver.

Nisab Value (as of 06/04/2022):

Using value of silver (612.36 grams) – approximately £366.80

Using value of gold (87.48 grams) – approximately £4,139.55

Visit ourZakat page for answers on frequently asked questions around Zakat.

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We ensure our content is reviewed and verified byqualified scholarsto provide you with the most accurate information. This webpage was last reviewed bySheikh Saalim Al-Azhari.Page last reviewed: 17 January 2022Next review due: Within 12 months

Zakat on Gold - How to Calculate | Islamic Relief Worldwide (7)

new director

Director of Network and Resource Development

Adnan joined Islamic Relief in 2004 as a regional fundraiser in the UK. He worked in multiple roles over 10 years at Islamic Relief UK, including setting up the first digital team and leading the growth of digital fundraising and engagement. Adnan also led numerous fundraising and marketing campaigns, which played a significant part in the growth of Islamic Relief UK.

Having moved to Islamic Relief Worldwide in 2014, Adnan has held different roles that have helped grow Islamic Relief’s global digital footprint into new geographic territories, supporting Islamic Relief members with their digital and marketing growth as well as developing new products and initiatives for the Islamic Relief family.

Adnan graduated in Industrial Design and Technology from Loughborough University. He has since completed an Advanced Diploma in Business Administration from Durham University and a Diploma in Digital Marketing from the Institute of Data and Marketing.

Zakat on Gold - How to Calculate | Islamic Relief Worldwide (8)

Nadeem Azhar

General Counsel

Nadeem joined Islamic Relief Worldwide in September 2022. He has worked in the charitable sector for over a decade.

He studied Modern History and Politics at Manchester University, and at the University of Law in London before qualifying as a solicitor in 2011.

Nadeem is an experienced corporate, commercial and governance lawyer, having worked with various faith-based and grant making charities as well those in health and education settings. He was a partner at a law firm in London before moving in-house where he focused on setting up and restructuring charities and social enterprises.

Most recently, Nadeem was Lead Counsel at Mind, a leading mental health charity, where he co-authored a new federation agreement, revamped legal processes, and played a major role in developing its strategic and fundraising partnerships.

Nadeem has been a charity trustee for the Seafarers Charity, as well as many grant-making bodies and theatrecompanies.

Zakat on Gold - How to Calculate | Islamic Relief Worldwide (9)

Adnan Hafiz

Director of Network and Resource Development

Adnan joined Islamic Relief in 2004 as a regional fundraiser in the UK. He worked in multiple roles over 10 years at Islamic Relief UK, including setting up the first digital team and leading the growth of digital fundraising and engagement. Adnan also led numerous fundraising and marketing campaigns, which played a significant part in the growth of Islamic Relief UK.

Having moved to Islamic Relief Worldwide in 2014, Adnan has held different roles that have helped grow Islamic Relief’s global digital footprint into new geographic territories, supporting Islamic Relief members with their digital and marketing growth as well as developing new products and initiatives for the Islamic Relief family.

Adnan graduated in Industrial Design and Technology from Loughborough University. He has since completed an Advanced Diploma in Business Administration from Durham University and a Diploma in Digital Marketing from the Institute of Data and Marketing.

Zakat on Gold - How to Calculate | Islamic Relief Worldwide (10)

Javed Akhtar

Director of Finance

Javed Akhtar has more than a decade of experience at Islamic Relief, having worked in a similar role between 2003-2014. In that role he strove to implement wide-ranging financial and accounting processes which aided in the transparent nature in which Islamic Relief now operates.Javed also has diverse experience across the private sector, having worked at American chemicals and pharmaceutical giant DuPont, shipping firm FedEX and technology consultancy company Accenture. In all his roles, he prioritises using the latest technologies to improve monitoring and reporting at every level. Javed’s commitment to embracing digital end-to-end technology, enhancing accountability to our stakeholders and promoting financial transparency is ensuring that we remain at the forefront of financial developments in the sector.By training, Javed is a chartered accountant with a Master’s degree in NGO Management with Charity Accounting and Financial Management from Cass Business School.

Zakat on Gold - How to Calculate | Islamic Relief Worldwide (11)

Affan Cheema

Director of International Programmes

Affan Cheema is an experienced leader who has spent 25 years working in the international aid sector on poverty eradication in Asia, Africa and the Middle East. He has worked in fast onset emergencies, protracted crisis and development environments whilst working for Islamic Relief Worldwide and Care International. He is also a trustee of South West International Development Network (SWIDN).Through his career Affan has held numerous roles including institutional fundraising, programme and grant management, and programme quality assurance. Affan’s leadership has helped Islamic Relief Worldwide secure the highly coveted Core Humanitarian Standard (CHS), seen as the sector’s premier benchmark for operational excellence.Affan completed his BA in Economics and Geography from University of London (School of Oriental and African Studies) and his MSc in Development Administration and Planning from the University of Bristol. He is PRINCE2 qualified, is a keen sportsman and recently co-edited a book entitled -Islam and International Development: Insights for working with Muslim Communities-.

Zakat on Gold - How to Calculate | Islamic Relief Worldwide (12)

Dr Hossam Said

Managing Director, Humanitarian Academy for Development (HAD)

For nearly three decades Dr Hossam has provided the strategic vision to manage, lead and develop a range of international humanitarian interventions around the world.At the start of his career, Dr Hossam served on the Board of Directors of the Egyptian Medical Syndicate, before moving to Islamic Relief Worldwide to manage the core global business activities as International Programmes Director.During this time the organisation increased its global reach, gaining both domestic and international repute and credibility. Dr Hossam has also served on the Islamic Relief Worldwide Board of Management and Executive Committee for the past 15 years; sharing responsibility for strategic organisational development and the change management process, whilst forging strong relationships with many other charities.Dr Hossam gained an MBA from Aston Business School in 2004 and graduated as a Medical Doctor from Cairo University in 1981.

Zakat on Gold - How to Calculate | Islamic Relief Worldwide (13)

Martin Cottingham

Director of External Relations and Advocacy

Martin Cottingham joined Islamic Relief in 2012 as IRUK Media Relations Manager, and was appointed Head of Communications in 2015 before taking up his current position as Director of External Relations and Advocacy for Islamic Relief Worldwide.

Martin has helped Islamic Relief to increase its mainstream media profile and expand its campaigning work, producing hard-hitting advocacy reports on floods in Pakistan (2011) famine in Somalia (2012) disaster risk reduction (2013) and aid to Afghanistan (2014). He has over 20 years’ experience working in media, communications and marketing roles for international development and environmental charities.

Martin graduated from the University of London with a degree in English and Drama (1982-85) then trained as a journalist with a postgraduate diploma at City University (1986-87). He has previously worked for Christian Aid as Editor of Christian Aid News and Media Relations Manager (1988-97) for Oxfam as Regional Campaigns Manager (1997-2000) and at the Soil Association as Marketing Director (2001-2006), as well as working for a wide range of organisations as a freelance writer, researcher and communications consultant.

Zakat on Gold - How to Calculate | Islamic Relief Worldwide (14)

Tufail Hussain

Director of Islamic Relief UK

Tufail Hussain has 17 years’ experience in the humanitarian and development sector, leading on marketing and fundraising campaigns for several organisations before joining Islamic Relief UK in 2016 as Deputy Director. Tufail was appointed Director of Islamic Relief UK in 2019 and in 2021 provided valuable leadership as interim CEO of Islamic Relief Worldwide.Tufail is driven by a passion for empowering disadvantaged youth and mentors a number of young people. He also works to strengthen engagement between British Muslims and wider society. Under his leadership, Islamic Relief UK has significantly increased its income and developed successful partnerships with communities across the country. He has travelled around the world to raise awareness of major emergencies such as the Syria, Yemen and Afghanistan crises and the floods in Pakistan and Sudan.A father to 5 daughters and a son, Tufail is also a sports enthusiast and passionate Liverpool FC supporter. Tufail has run the London Marathon twice, raising over £35,000 for humanitarian causes.Before joining Islamic Relief he was CEO of Orphans in Need, where he oversaw a new strategy that increased income from £2 million to £9 million in 3 years and opened up new UK and international offices. Tufail is also a trustee of the Muslim Charities Forum and a Director of TIC International (Islamic Relief Worldwide’s clothes recycling and trading arm).

Zakat on Gold - How to Calculate | Islamic Relief Worldwide (15)

Waseem Ahmad

Chief Executive Officer

Waseem Ahmad joined the Islamic Relief family over 24 years ago, serving as Programme Officer in the Balochistan province of south-western Pakistan before becoming Head of Programmes in Pakistan. Waseem then moved to Oxfam and Tearfund before returning to Islamic Relief to establish our mission in Malawi. Later serving as Head of Programme Funding and Partnerships, Waseem led the response to major crises across the globe, including the East Africa drought, Pakistan earthquake and the Indian Ocean Tsunami.

Waseem then served for nearly 6 years as our Director of International Programmes, during which time the charity secured and retained the coveted Core Humanitarian Standard certification in recognition of the quality of our programming. He was appointed CEO of Islamic Relief in May 2021.

With a special interest in community mobilisation and infrastructure, Waseem received an MSc in Project Planning and Management from the University of Bradford, as well as an MSc in Economics from Arid Agriculture University in Rawalpindi, Pakistan.

Waseem has also worked for Lepra Health in Action and is a member of the International Civil Society Centre’s Board of Trustees. The father-of-3 enjoys walking and playing football, and is a keen birdwatcher.

Zakat on Gold - How to Calculate | Islamic Relief Worldwide (2024)

FAQs

Zakat on Gold - How to Calculate | Islamic Relief Worldwide? ›

Assess the current market value of gold per gram. Multiply the total weight by the current price per gram to determine the market value of your gold. If the total market value meets or exceeds the nisab threshold, calculate 2.5% of this value as the amount due for zakat.

How is gold Zakat calculated in USA? ›

Zakat is payable at 2.5% of the wealth one possesses above the nisab. Nisab, which is equal to 85 grams of 24k gold, is the minimum amount of wealth one must have before they are liable to pay zakat.

How do you calculate gold Zakat percentage? ›

Zakat must be paid on 2.5% of the value of the gold that you own.

How do you calculate Zakat on gold grams? ›

You must pay Zakat at the rate of 2.5% of the value of the gold that you own. A single gram of gold costs £47.32 in 2024, which means that, on 1g of gold, £1.18 Zakat must be paid.

How much Zakat do I pay for $1000? ›

To work out your Zakat, we need to add up all the things you own, take away anything you owe to others, which gives us a total figure of your wealth. The Zakat due would be 2.5% of that wealth.

How much is nisab in US dollars? ›

In the United States, the Nisab threshold is approximately USD 487.01 according to the current value of silver. This amount is subject to change because of the fluctuation in the value of silver.

How much Zakat do you pay in USA? ›

Zakat is charged at a rate of 2.5%. This means you should donate 2.5% of your wealth which exceeds the nisab value. If you're struggling to work out how much zakat you need to pay, use our zakat calculator. If you don't exceed the nisab value, you need not pay.

How much Zakat on $50,000? ›

Zakat should be paid at 2.5% on all cash balance and bank balances in your savings bank account, current a/c or FD account on Zakat Due Date.

What is Zakat on 7.5 Tola gold? ›

They are required to donate 2.5% of their total wealth to those in need. Nisab was set by Prophet Muhammad (صلی اللہ علیہ وسلم) at 20 Mithqaal (مثقال) of gold or 200 dirhams of silver. This is the equivalent of 87.48 grams (7.5 tola) of gold and 612.36 grams (52.5 tola) of silver, respectively.

How to calculate Zakat with example? ›

The standard Zakat rate is 2.5% of your Zakatable assets. To calculate Zakat, multiply your Zakatable assets by 0.025 (2.5%). For example, if your Zakatable assets amount to $10,000, your Zakat liability would be $10,000 x 0.025, which equals $250.

Do I have to pay Zakat on gold every year? ›

Zakat must be given on the gold we own, as well as silver, cash, stocks and other valuable assets. The value of Nisab can change and fluctuate throughout the year, so it is important to check the Nisab amount when paying Zakat. The values of gold and silver also change, so it is important to check these values, too.

How to calculate the value of gold? ›

Price of the gold jewellery = Gold rate x weight of gold (gms) + Making charges + GST, i.e., the prevailing rate of gold multiplied by the weight of the piece in grams, and added to making charges and tax. One of the factors that you must be aware of is that the price of gold will depend on the quality and location.

How to calculate Zakat on white gold? ›

A: White gold is an alloy of gold and at least one white metal, usually nickel, manganese or palladium. Thus, white gold is treated like normal gold and is subject to Zakāt. The amount of Zakāt payable would be calculated by multiplying the full weight of the jewellery by the price per gram for gold of that carat.

How do you calculate Zakat on gold in dollars? ›

Assess the current market value of gold per gram. Multiply the total weight by the current price per gram to determine the market value of your gold. If the total market value meets or exceeds the nisab threshold, calculate 2.5% of this value as the amount due for zakat.

Do I pay Zakat if I have debt? ›

I have debts. Do I pay zakat? The basic principle is that debts are deducted from wealth, and if the remainder is still above the nisab threshold, zakat is payable, otherwise not.

How much zakat al-fitr in USA in 2024? ›

Zakat Al-Fitr is an obligatory charity during Ramadan that every (financially capable) adult Muslim is to pay before the day of Eid Al-Fitr and is to be given to the poor and needy.

What is Nisab in America? ›

Nisab is the minimum amount the Prophet, on him be peace, set as the fixed thresholds at which a Muslim must pay Zakat on eligible kinds of wealth. Different types of assets have different thresholds.

Do I need to pay Zakat on my 401k? ›

For the purpose of zakat, retirement accounts are considered part of net worth, as the contributor has eventual access to the funds. Thus for retirement accounts (401(k), Keogh, IRA, SEP-IRA, Roth IRA), the investor is subject to zakat on 10.3% of the increase in a Gregorian calendar year.

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